Home Business NewsFinance News Kesa tumbles into loss after selling Comet chain

Kesa tumbles into loss after selling Comet chain

by LLB Editor
20th Jun 12 1:07 pm

Electrical goods retailer Kesa has suffered a €17m (£13.7m) pre-tax loss in the 2011-12 financial year, down from a €85.6m profit last year.

The retailer announced Alan Parker, chairman of Mothercare and former chief executive of leisure group Whitbread, will replace current chairman David Newlands from September.

The group will also change its name to Darty, the name of its French electrical store, from 31 July.

Last year, Kesa sold its loss-making UK chain Comet for £2 to private investment firm OpCapita.  

Back in January, LondonlovesBusiness.com columnist and LBC presenter James Max blamed Kesa’s poor financial performance on the chain’s senior management team which “didn’t have anyone with any particular expertise in consumer technology.”

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